Bonnie and Ernie File a Joint Return

question 106

True/False

Bonnie and Ernie file a joint return.Bonnie works and receives income during the year but Ernie does not.If the couple files a joint tax return, Ernie is responsible for paying any taxes due if Bonnie is unable to pay the taxes.

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Definitions:

General Ledger

A comprehensive ledger containing every financial transaction throughout a company's existence.

Special Journal

A ledger used in accounting to record and categorize similar types of transactions for efficiency.

Special Journal

A specialized accounting journal dedicated to recording a specific type of transaction, such as sales or purchases, for efficiency.

Total Individually

Calculating or assessing each item on its own, then summing them up for a total figure, often used in accounting or inventory management.